On 5 August 2020, the Baker McKenzie State and Local Tax (SALT) Subpractice Group covered coast-to-coast state and local tax developments. The purpose of this webinar was to keep you informed of updates and trends that may affect your business.

Recently, two states unveiled transfer pricing enforcement tactics to, in their view, combat improper intercompany profit shifting.

The Idaho Supreme Court recently affirmed a District Court’s judgment that the gain from the sale of a 78.54% membership interest in a limited liability company did not constitute ‘business income’ under Idaho Code section 63-3027.  In Noell Indus. Inc. v. Idaho State Tax Comm’n, Docket No. 46941 (Idaho 2020), the court determined that “this type of gain does not meet the definition of ‘business income’ under either the transactional test or functional test (including the unitary business test),” and was therefore not apportionable income.

Numerous states have provided tax relief in response to the COVID-19 outbreak, often in the form of tax filing and payment deadline extensions. At this time, 40 states and Washington, D.C., have provided a corporate income tax filing and/or payment deadline extension. Some of these states have conformed to the…

Many employees are now telecommuting due to the COVID-19 outbreak. In our previous blog post,we discussed employers’ potential withholding issues as a result of employees working remotely. In this blog post, we will discuss potential nexus and apportionment issues due to employees working remotely. In the corporate income tax context,…

Read publication We are pleased to enclose the March issue of Tax News and Developments, a publication of Baker McKenzie’s North America Tax Practice Group. This month’s edition features an update on the tax payment deadline, state and local tax effects of COVID-19, a discussion on the FDII regime, the…